Buy vs Lease near Loves Park, IL
Your next vehicle is waiting for you at ! After choosing the model that’s just right, however, you’ll then need to decide whether you should buy or lease it. Since both avenues offer different advantages, we’re here to explain them in a bit more detail to assist with your decision. Should you have any remaining question or wish to discuss everything in person, feel free to reserve an appointment with one of our expert staff members!
Since leasing is somewhat less common than buying, we’ll start off with this path. In recent years, an increasing number of drivers have decided to give a leasing a try, since it comes with lower monthly installments, requires a smaller down payment, and allows for shorter contract lengths compared with financing a purchase. After the , you have a few more options to choose from, including leasing the latest iteration of your current model or opting for a different vehicle entirely. However, you’ll want to keep in mind that leases don’t result in ownership and you’ll be limited to a certain yearly mileage allotment.
Buying a Vehicle
Generally, most people elect to finance their purchase instead of buying it up front. This allows you to gradually make monthly installments over the course of about four to six years until the loan and its accumulated interest have been covered. Once this happens, the Toyota is yours for as long as you wish to keep it! Of course, this type of agreement requires more of a financial commitment and means that you’ll have to maintain your ride as it ages, which can get expensive. However, you’ll be able to drive it as much as you please and can pass it down to your kids when you’re ready for something new.
Visit Us Today!
Whether you’ve already decided which option makes the most sense for your budgetary and lifestyle needs or you’re still unsure, our Finance Department is prepared to assist! If you’re ready to apply for a loan, feel free to get a head start on the process by completing our online . Potential lessees can also make use of our website, as we feature up-to-date leasing offers for you to peruse in your spare time. Finally, if you need some assistance choosing which path is right, our staff would be happy to sit down with you for a one-on-one consultation to review your financial standing and current driving needs.
Anderson Toyota is here to help you decide whether to buy vs lease near Loves Park, IL! We understand that sifting through the various pros and cons can be daunting, so we aim to make everything as stress-free and streamlined as possible. If you have any questions before your visit, be sure to at 866-311-2174!